Global oil prices moderately increased on Thursday morning, driven by strong demand in the United States, Report informs, citing trading data.
October futures for Brent crude rose by 0.46% to $67.15 per barrel, while WTI October futures climbed 0.54% to $63.05.
The price growth was supported by US inventory data released Thursday. Commercial crude oil stocks in the country (excluding the strategic reserve) fell by 6 million barrels to 420.7 million for the week ending August 15—exceeding market expectations. Gasoline inventories also dropped by 2.7 million barrels (1.2%) to 223.6 million.